Tag: 50 dma

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Nifty Scales Fresh High; Jubilant Food Q4 Results Miss Estimates

Today’s Action

Nifty, +0.4%; Sensex, +0.4%; Nifty Midcap, +0.6%; Nifty Smallcap, +0.5%; Model Portfolio, +2.3%.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

After a gap-up opening, Nifty traded sideways in a narrow range throughout the session. It made a new all-time high of 15,901.6. Volume was on the lower side. On the sectoral front, barring Nifty Metal (-0.1%) and Pharma (-0.9%), all other major indices closed higher. Nifty Bank, FMCG, IT, FMCG, and Realty closed 0.2–1.0% higher. Asian Paints, Axis Bank, and HDFC Life were the top Nifty50 gainers. Nifty is trading 2.5% and 5.7% above its 21- and “50-DMA“. The advance-decline ratio was in favor of advancers, as out of 2,263 stocks traded, 1,141 stocks advanced, 794 stocks declined, and the remaining closed flat.

Nifty trading at its all-time high, low distribution day count, and broader market outperformance are positive signs and indicate further upside. One distribution day is set to expire tomorrow. However, if the index falls, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Jubilant Foodworks announced its Q4 FY21 results. It missed estimates on all fronts. Q4 FY21 PAT grew 3.2x y/y to Rs 104 crore. Revenue grew 14.3% y/y to Rs 1,025 crore. Margin expanded 540bps y/y to 24.3%.

Whirlpool Of India (Nse)’s Q4 FY21 revenue increased 31.5% y/y to Rs 1,779 crore. PAT rose 41% to Rs 130 crore. Margin improved 50bps y/y to 10.6%.

Easy Trip Planners’s Q4 FY21 revenue increased 82% y/y to Rs 57.5 crore. It reported a profit of Rs 30.5 crore compared to Rs 3.4 crore in Q4 FY20.

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Nifty’s Winning Streak Continues for Fifth Straight Day; PSU Bank and IT Stocks Outperform

Today’s Action

Nifty, +0.2%; Sensex, +0.2%; Nifty Midcap, +0.5%; Nifty Smallcap, +1%; Model Portfolio, +0.8%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty after a muted opening, gained strength and moved above 15,350. The volatility was high due to monthly F&O expiry. After moving to and fro, Nifty closed 0.2% higher. Volume was comparatively high. Nifty is now less than 100 points below its all-time high. Broader market indices outperformed benchmark indices. Barring Nifty Realty (-1.2%) and Pharma (-0.2%), all other sectoral indices closed in the green. Nifty PSU Bank closed 2.8% higher. Nifty IT (1.2%) continues positive momentum after leading stocks like TCS and Infosys reclaimed its 50-DMA yesterday. The advance-decline ratio was in favor of advancers. Of the 2,259 stocks traded, 1,024 advanced, 893 declined, and the rest remained unchanged. Nifty is trading 3% and 4% above its 21- and 50-DMA, respectively.

Last week, Nifty registered an additional follow-through day and hasn’t added any distribution day after May 11. These are positive signs for a sustainable rally. We would like the index to hold its 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Alkyl Amines Chemicals’s Q4 FY21 revenue grew 62.8% y/y to Rs 382 crore. PAT up 88% y/y to Rs 92.6 crore. Margin expanded 640bps to 34.9%.

Cadila Healthcare announced its Q4 FY21 results. Revenue came in line with estimates, while PAT and margin beat estimates. Revenue grew 2.5% y/y to Rs 3,846 crore. PAT grew 73.6% y/y to Rs 649 crore. Margin expanded 110bps to 22.2%.

Page Industries’s Q4 FY21 revenue grew 63% y/y to Rs 881 crore. PAT came in at Rs 115.6 crore compared with Rs 31 crore in Q4 FY20. Margin expanded 860bps to 19.3%.

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Nifty Sheds Opening Gains; BFSI Stocks Underperform

Today’s Action

Nifty, +0.07%; Sensex, -0.03%; Nifty Midcap, -0.2%; Nifty Smallcap, -0.1%; Model Portfolio, +0.5%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty gapped higher this morning but gradually moved lower as the day progressed. In the last hour, Nifty recovered from the day’s low and managed to close in the green. Volume was lower compared with the last few sessions. Banking and Financial-related stocks underperformed (Hdfc Bank, Axis Bank, Indusind Bank (Nse), and Housing Development Fin. were down 0.5–2.0%). All other sectors closed in positive territory. Nifty Pharma, FMCG, Realty, IT, and Auto closed 0.2–0.7% higher. Nifty Bank and Financial Services closed almost 1% lower. The advance-decline ratio was in favor of advancers. Of the 2,263 stocks traded, 1,040 advanced, 874 declined, and the rest remained unchanged. Nifty is trading 2.5% and 3.0% above its 21- and 50-DMA, respectively.

Last week, Nifty retook its 50-DMA, did not add a distribution day, and registered an additional follow-through day, which are positive signs. We would like the index to hold its 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Emami’s Q4 FY21 revenue grew 37.2% y/y to Rs 730.8 crore. EBITDA grew 65% y/y to Rs 162 crore. Margin expanded 380bps to 22.3%. Domestic volume grew 39% y/y.

Ttk Prestige announced its Q4 FY21 results. Revenue grew 43% y/y to Rs 598 crore. The company reported a profit of Rs 85.4 crore against a profit of Rs 8.6 crore for the corresponding period last year. Margin expanded 930bps to 18%.

Newgen Software Techs’s Q4 FY21 revenue grew 7.8% y/y to Rs 200 crore. PAT grew 48.9% y/y to Rs 52.7 crore. Margin contracted 390bps to 33.2%.

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Nifty Closes Near Day’s Low; Metals Underperform

Today’s Action

Nifty, -0.8%; Sensex, -0.7%; Nifty Midcap, -0.1%; Nifty Smallcap, -0.2%; Model Portfolio, -0.6%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty, after opening briefly in the green, turned negative in the opening hour. It continued to trend lower and closed near the day’s low. Volume was lower than the previous session, which helped the index avoid a distribution day. Broader indices performed better than benchmark indices. The advance-decline ratio was in favor of decliners. Of the 2,259 stocks traded, 937 advanced, 972 declined, and the rest remained unchanged. On the sectoral front, barring Nifty Realty (+1%) and PSU Bank (+0.7%), all other indices closed in the red. Nifty Metal closed more than 3% lower. Nifty Auto, Bank, Financial Service, FMCG, and IT closed 0.2–1.0% lower.

Nifty recently retook its 50-DMA, which is a positive sign. We would like the index to hold its 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Focus on quality ideas emerging out of sound bases with relative strength line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Relaxo Footwears announced its Q4 FY21 results. Revenue was up 38.3% y/y to Rs 747 crore. PAT increased 97% y/y to Rs 102.2 crore. Margin expanded 400bps y/y to 21.8%.

Unichem Laboratories received approval from the U.S. FDA for its Amitriptyline HCl Tablets USP.

Bosch announced its Q4 FY21 results. Revenue grew 44% y/y to Rs 3,216 crore. The company reported a profit of Rs 483 crore against a profit of Rs 81 crore for the corresponding period last year. Margin expanded 400bps to 19.2%.

Related article:

Portfolio Closes 0.6% Lower Against Nifty’s Decline of 0.8%

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SGX Nifty Indicates Muted Opening; Havells India and Zee Entertainment to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,022, compared with Nifty’s close of 15,030, yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, -0.5%; S&P 500, -0.3%; Nasdaq, -0.03%; Kospi, -0.4%; Nikkei, +0.1%; Shanghai Composite, -0.4%

Nifty, after opening lower yesterday, traded toward the day’s high of 15,133 in the initial hour. However, it staged a reversal from there amid profit booking and closed near the day’s low holding 0.5% loss. Volume was lower than the previous session, which helped the index avoid a distribution day. Broader indices performed better than benchmark indices. Nifty Midcap closed 0.1% lower, while Smallcap advanced 0.6%.

On the sectoral front, mixed reactions were observed. Nifty Realty (+2.2%) led the gains followed by Nifty Media and Nifty Pharma, which advanced 2.0% and 1.2%, respectively. On the flip side, Nifty Fin Service (-1%) was the major decliner, while Nifty Metal, Nifty BANK, and Nifty Auto declined 0.7–0.9%. The advance-decline ratio was in favor of advancers. Of the 2,258 stocks traded, 1,069 advanced, 833 declined, and the rest remained unchanged.

Nifty recently retook its 50-DMA, which is a positive sign. We would like the index to hold its 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptend Under Pressure. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key Results Today: Havell’s India, Zee Entertainment Ents., Hindustan Ptl. (Nse), Torrent Power, Knr Constructions, and others.

Key News:

J K Tyre & Inds. reported its Q4 FY21 results. Consolidated revenue was up 63.3% y/y to Rs 2,927 crore. It reported a profit of Rs 189 crore compared with a loss of Rs 47 crore in Q4 FY20.

Endurance Technologies reported its Q4 FY21 results. Revenue increased 33.6% y/y to Rs 2,132 crore. PAT grew 76.4% to Rs 187 crore.

Rajesh Exports (Nse): Life Insurance Corporation of India acquired another 2.025% stake, increasing it to 9.07% from 7.045% in the company.

Buy Watchlist: Sharda Cropchem, Astral, I G Petrochemicals, Thirumalai Chemicals, Icici Bank, Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints, Apollo Tricoat Tubes, Coromandel International, and Guj.Ste.Fert.& Chems.

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